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Prices grew slower than historical averages for most food-at-home categories in 2024

  • Food Markets & Prices
Horizontal bar graph showing the annual percent change in price for various food groups for 2023, 2024, and the historical average from 2004 to 2023.

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A series of shocks to the food supply chain between January 2020 and January 2023 resulted in inflation peaking near 10 percent in 2022. U.S. food price increases have since tapered off, growing by 5.8 percent in 2023 and 2.3 percent in 2024.

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